Innovation has been a daily word in LG. The company has been known for coming out with many FIRSTS in market. LG’s M-Disc is going great guns and has been appreciated by all. LG recently entered the niche segment of Ultra wide Monitors with its Product LG 29EA93 in India. According to CMR Report Q1 2013 LG has no. 1 position in monitor market followed by Acer and Samsung.
On LG’s vision for PC market, Mr. Sanjoy Bhattacharya, IT head, LG India, said, “LG has been making many strategic moves to consolidate the market. e.g. We are knowingly moving out from 15” monitor market and moving towards 22” and more. It is here where the future lies. Also, 19.5” monitor is going to ruling the market presently. We are focusing on it.”
Elaborating on the latest offering LG AP29E19, in monitor category, he said, “AP29E19 is an IPS monitor which is an ultra-wide monitor which is world’s first. It has already been launched world-wide. Owing to the positive response received worldwide, we have now introduced this to Indian audience. Here with a single click, the 4 –Screen Split Feature divides the screen into up to 4 customizable segments.”
Talking about the move to shift from RDs to Distributors, Mr. Bhattacharya explained, “By this move, we are trying to consolidate the market. We have brought down the billing points from 260+ to 36. The margins have reduced in monitors and laptops business, so it made sense for the company to bring down the billing points and thereby increase profits of single person. This way the channel is happy and thus the company is also satisfied.”
Negating the views that LG is not focusing much on laptop categories, Mr. Bhattacharya said, “In India LG basically offers 2 categories of Laptops- 3D notebooks and Ultrabooks. Infact LG is no 1 in 3D laptops category. But these laptops are targeted only towards LG brand loyalists. It’s a very niche segment. There are many launches that will be made in this category in the near future. There are many products in this category which are available only through our 600 retail stores across India or e-shopping.”
Another product of LG that has been getting positive reviews is new optical storage technology with Millenniata, “With M-Disc one can store the data for a long time, as long as 1000 years. LG has been the first one to score this technology and only LG drives can support M-Disc. M-Disc is constructed of organic, synthetic materials which cannot be overwritten, erased or corrupted by natural processes. I suppose this technology will be very useful in banks and other places with huge data.”
Emphasizing that the convergence products will be the future in India, Mr. Sanjoy said, “Convergence products are creating a new wave in IT world. It is already a huge hit in US and other developed countries. LG is planning to launch many products like refrigerators with TV screens and washing machines with self-diagnosing mechanisms in the country.”
There is no doubt that LG has been working on many innovations be it in IT or consumer electronics, the company has a clear vision of making life of consumers easier with its state of art products. Owing to this dedication and vision, the company has won many awards including 2013 CES Innovations Award for its Smart Home Service.